SatCon Technology Installs Automated Assembly Line for PowerGate Power Conversion System Components
23 August 2000
SatCon Technology Installs Automated Assembly Line for PowerGate Power Conversion System Components
CAMBRIDGE, Mass.--Aug. 23, 2000--SatCon Technology Corporation(R) , a leader in power and energy management products for the distributed power generation and power quality markets, announced today that it has installed the equipment for its automated volume manufacturing line for components for its PowerGate(TM) power conversion systems in its Marlborough, MA Advanced Fuel Cell Power Products facility. The installation is the first milestone is its plan to create high volume manufacturing capacity for distributed power generation products. When fully operational, the line will have the capability to build up to 25,000 PowerGate(TM) power conversion systems as product demand warrants. The Marlborough facility has expansion space so that other lines can be installed as the demand for distributed power generation products increases. Employee operator training has already begun and the line is expected to be fully operational by the end of December 2000."We are pleased to accomplish this first in a series of planned steps to establish a fully automated, high volume production line for our PowerGate(TM) power conversion systems," said David Eisenhaure, SatCon's President and Chief Executive Officer. "We believe the distributed power generation market represents a significant potential for SatCon and that our participation in that market requires us to be ready to build power conversion products at a competitive cost. Automated assembly is one of the steps required to achieve both the cost and volume requirements that we believe will be dictated by the marketplace. The facility in Marlborough can also be expanded to include up to 48,000 square feet of automated electronic assembly. Our next step is to begin producing components on the assembly line. The line will be capable of supporting the manufacture of components for our PowerGate(TM) power conversion system, as well as RF Uplinks and other electronic components."
"This is a significant first step in the commercialization of our power conversion products," said Gary Colello, General Manager of Advanced Fuel Cell Power Electronics. "We are in the process of expanding the capabilities of our existing workforce to include these new automated systems and anticipate additional workforce will be added as we increase demand. One of the reasons we purchased the facility was the immediate availability of a skilled workforce in electronic components manufacturing. We will begin utilizing the line for both power electronics components, such as those used in our PowerGate(TM) system, as well as electronics for telecommunications."
SatCon Technology Corporation manufactures and sells power and energy management products for distributed power generation, telecommunications, silicon wafer manufacturing, factory automation, aircraft, satellites, and automotive applications. SatCon has three operating segments that contain six divisions. Under the Electronics Products segment, Advanced Fuel Cell Power Products manufactures and sells power conversion products for fuel cell and other power generation systems, and Film Microelectronics, Inc. designs and manufactures standard and custom microelectronic circuits and interconnect products. Under the Motion Control Products segment, Magmotor manufactures standard and custom high-performance motors and magnetic suspension systems, and Ling Electronics manufactures shaker vibration test equipment, power converters, amplifiers and controllers. Under the Contract Research and Development segment, SatCon Electronic Power Products performs contract product development for power electronics including hybrid and electric drivetrains, and the Technology Center is responsible for new technology and product development. Our affiliate, Beacon Power Corporation, is developing flywheel energy storage systems for uninterruptible power and power quality management. For further information, please visit the SatCon website at http://www.satcon.com.
Statements made in this document that are not historical facts or which apply prospectively are forward-looking statements that involve risks and uncertainties. Among the important factors that could cause the Company's actual circumstances, or results, to differ materially from those implied by such forward-looking statements include market conditions, developments in the Company's business and industry, inability to gain customer acceptance of its fuel cell power converters and difficulties in developing technology enhancements, particularly within the distributed power generation marketplace. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time to time in the Company's filings, including but not limited to the 10-K and 10-Q. Copies of those filings are available from the Company and the SEC.